The latest well in New Mexico’s 3rd Bone Spring formation, New Mexico, has produced its first oil flow, operator Caza has announced.
The Caza Ridge 14 State No. 4H horizontal well has been flowing for the past few days and peaked at 1,004 barrels of oil per day and 1.3million cubic feet of natural gas.
This is the second successful well in the 3rd Bone Spring formation on Caza’s Copperline Property.
Data from other reservoirs in the field – the Brushy Canyon in Avalon and 2nd Bone Spring Sand – also suggested substantial presence of oil and natural gas, the company said.
“This is another excellent result on the Copperline Property and another successful Bone Spring well for the Company,” said W. Michael Ford, Caza Oil and Gas chief executive.
“The positive log and core data in the shallower intervals not only creates future development opportunities, but will also add to the Company’s reserve values.
“Production from this well and the property will further increase Caza’s oil to gas production ratio and add significant cash flow to the Company.”
Caza holds a 58.75% working interest in the Caza Ridge 14 State No. 4H well.